Pilgrim Partners Asia Pte Ltd Makes New Investment in Fastly, Inc. (NYSE:FSLY)

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Fastly, Inc. (NYSE:FSLY) during the 4th quarter, Holdings Channel.com reports. The firm bought 8,800 shares of the company’s stock, valued at approximately $83,000.

Other institutional investors have also recently bought and sold shares of the company. Quadrature Capital Ltd raised its stake in shares of Fastly by 84.2% in the 3rd quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock valued at $848,000 after acquiring an additional 51,224 shares during the period. XTX Topco Ltd acquired a new position in Fastly in the third quarter worth about $400,000. Zacks Investment Management acquired a new stake in shares of Fastly during the 3rd quarter valued at approximately $914,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Fastly during the third quarter worth $679,000. Finally, Swiss National Bank lifted its holdings in Fastly by 2.2% in the fourth quarter. Swiss National Bank now owns 259,000 shares of the company’s stock worth $2,445,000 after acquiring an additional 5,500 shares during the last quarter. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Oppenheimer initiated coverage on shares of Fastly in a report on Thursday, March 20th. They issued a “market perform” rating on the stock. Royal Bank of Canada cut their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Finally, Citigroup upped their price target on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.55.

Insider Buying and Selling at Fastly

In related news, CFO Ronald W. Kisling sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $125,000.00. Following the completion of the transaction, the chief financial officer now owns 525,850 shares in the company, valued at $5,258,500. The trade was a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd Nightingale sold 35,509 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the transaction, the chief executive officer now directly owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,699 shares of company stock worth $1,561,990. 6.70% of the stock is currently owned by insiders.

Fastly Stock Down 13.2 %

FSLY opened at $5.16 on Friday. Fastly, Inc. has a twelve month low of $5.01 and a twelve month high of $14.12. The firm has a market cap of $733.56 million, a price-to-earnings ratio of -4.52 and a beta of 1.43. The firm’s 50-day simple moving average is $7.82 and its 200-day simple moving average is $8.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Equities research analysts anticipate that Fastly, Inc. will post -0.78 EPS for the current fiscal year.

Fastly Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.